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...swine flu" was supposed to bring global commerce to a halt, drive global GDP down by 5%, and cost the economies across the world as much as $3 trillion dollars. In the process, as many as a million people were supposed to die. The forecasts for what the flu might have done to damage an already weak global economy shows many of the weaknesses of the of the press, world health monitoring agencies, and economists. The worst case about something is often by far and away the least probable case. Implying that the worst case is the probable case tests...

Author: /time Magazine | Title: Preparing Businesses for the Flu Epidemic: A Waste of Time? | 5/7/2009 | See Source »

...multi-month bank "stress test" program which includes thorough vetting of the health of America's 19 largest banks. That part of the drama is over. Someone leaked almost all of the information on the banks that failed the tests and how much money they will be asked to bring in as new capital. Citigroup (C), Wells Fargo (WFC), and Bank of America (BAC) are troubled, as the government sees it, and will have to improve their balance sheets by a combined total of almost $60 billion. JP Morgan (JPM) and Goldman Sachs (GS) passed the tests and are free...

Author: /time Magazine | Title: The Curtain Comes Down on Bank Stress Tests | 5/7/2009 | See Source »

...surveillance for the Bureau of Communicable Disease in the New York City Department of Health, notes that while systems like Google Flu Trends may be useful, health officials need to remember that the service tracks searches, not confirmed cases of illness or even symptoms that are severe enough to bring a person to the emergency room. Earlier this flu season, for example, when reports of avian influenza overseas hit the news in the U.S., there was a spike in bird flu queries online in New York City. "The system only tells you what people are interested in reading or learning...

Author: /time Magazine | Title: Is Google Any Help in Tracking an Epidemic? | 5/6/2009 | See Source »

...thrilled at the prospect of a relatively staid confirmation process for President Barack Obama's as yet unnamed Supreme Court nominee can rest easy. This week Senate Republicans named perennial bomb thrower Jeff Sessions, 62, of Alabama to be the top Republican on the Senate Judiciary Committee, promising to bring at least a few sparks to a confirmation process that - if Minnesota's Al Franken is seated - was bound to be relatively easy...

Author: /time Magazine | Title: Sessions Could Make Obama's Supreme Court Fight Tougher | 5/6/2009 | See Source »

...still kill their market. "This exemption is nothing but a ruse," Nunavut Environment Minister Daniel Shewchuck said in a statement. "With an outright ban on commercial trade, the price of skins will collapse, and with it one of the few ways in which the Inuit people are able to bring cash into their communities...

Author: /time Magazine | Title: Canada Battles the E.U. Over Baby Seals | 5/6/2009 | See Source »

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